The Fintech Revolution in Africa: Women Leading the Charge
The fintech industry in Africa is experiencing unprecedented growth, with projections indicating a market value of $65 billion by 2030. This remarkable expansion is fueled by an annual funding rate of $321.5 billion, which accounts for nearly 40% of all startup investments on the continent. At the heart of this transformation is the urgent need for innovative solutions to address financial inclusion, as over 350 million adults in Africa remain unbanked. In this dynamic landscape, women are emerging as key players, breaking barriers and creating groundbreaking solutions that empower individuals, businesses, and communities. Here, we spotlight six trailblazing women who are making significant waves in the fintech sector across Africa and beyond.
1. Gold Sylvester – Co-founder/CEO, Traddify
Gold Sylvester is a fintech entrepreneur and the co-founder and CEO of Traddify, a financial services platform designed to support businesses and individuals engaged in digital trade. Traddify offers tailored solutions, including credit facilities, payment services, business accounts, and invoice financing, all aimed at optimizing trade transactions for its users. Gold’s passion for financial inclusion, coupled with her deep understanding of the challenges faced by small and medium-sized enterprises (SMEs), has driven her to create innovative solutions that empower businesses to thrive in the global market. Under her leadership, Traddify is revolutionizing cross-border payments and trade finance, making it easier for SMEs to access the resources they need to grow.
2. Cynthia Wandia – Co-founder/CEO, Kwara
Cynthia Wandia is a Kenyan electrical engineer, polyglot, and entrepreneur who co-founded Kwara, a digital banking platform specifically designed for financial cooperatives, credit unions, and community banks. With a mission to modernize financial services for underserved communities, Kwara provides a seamless online and mobile banking experience. Cynthia’s leadership has positioned Kwara as a key player in Kenya’s fintech ecosystem, enabling financial institutions to offer better services to their members. Her work is instrumental in bridging the gap between traditional banking and the digital world, ensuring that more people have access to essential financial services.
3. Evelyn Chilomo Kaingu – Co-founder/CEO, Lupiya
Evelyn Chilomo Kaingu is a Zambian economist and the co-founder of Lupiya, a fintech startup that simplifies access to financial opportunities for individuals and businesses in Zambia. Lupiya offers three loan programs: Personal Loans, Lupiya for Business, and Lupiya for Women, catering to diverse financial needs. Evelyn’s vision is to make financial services more inclusive and accessible, particularly for women and small businesses. By focusing on these underserved segments, Lupiya is helping to foster economic growth and empower individuals to achieve their financial goals.
4. Ife Durosimi-Etti – Founder, Herconomy
Ife Durosimi-Etti is the founder of Herconomy, Nigeria’s first fintech company dedicated to empowering female entrepreneurs and professionals through financial services, capacity building, community, and opportunities. What began as a community for women to access opportunities and grants has evolved into a paid community of 1,500 members. Herconomy focuses on empowering women to take control of their finances and secure their financial future through savings and investment education. Ife’s commitment to uplifting women in the financial sector is paving the way for a more equitable economic landscape.
5. Judy Njogu Mokaya – Co-Founder/CEO, VunaPay
Judy Njogu Mokaya is a Kenyan entrepreneur and technology expert who founded VunaPay, a cutting-edge fintech company that provides management solutions to smallholder farmers in Africa. VunaPay is revolutionizing the agricultural sector by digitizing the remuneration system for farmers in East Africa’s cooperative societies. Since its launch in 2023, the platform has registered over 20,000 farmers and facilitated approximately KES 70 million in payments. Judy’s innovative approach is not only improving the livelihoods of farmers but also enhancing the efficiency of agricultural transactions across the region.
6. Jess Anuna – Founder and CEO, Klasha
Jess Anuna is the founder and CEO of Klasha, a San Francisco and Lagos-based technology company that is transforming cross-border African commerce. Klasha makes consumer goods and services more accessible online in Africa, benefiting both consumers wanting to make international payments and merchants wanting to sell into Africa. Under Jess’s leadership, Klasha has rapidly grown, attracting support from international investors like Amex Ventures and Greycroft. Her work is crucial in facilitating smoother transactions and expanding market access for African businesses.
These six emerging female founders are redefining the fintech landscape across Africa and beyond. Their innovative solutions address critical challenges such as cross-border payments, trade finance, financial inclusion, and access to credit, empowering individuals, businesses, and underserved communities.
Gold Sylvester, in particular, stands out as a young and promising leader in the fintech space. Her work with Traddify demonstrates her commitment to financial inclusion and her ability to develop solutions that address real-world challenges faced by SMEs. As the fintech ecosystem continues to grow, leaders like Gold Sylvester will undoubtedly play a pivotal role in shaping its future. Africa, watch out—these are the names you’ll be hearing for years to come.